USDJPY Forecast
The USDJPY gapped lower at the beginning of the week opened at 122.23 and moving higher after a worse than expected Japan real GDP number hit 122.60. As you can see on my H1 chart below price attempted to push lower, slipped below the EMA 200 but unable to stay consistently below the EMA 200 so far. The bias is neutral in nearest term. Immediate support is seen around 122.20. A clear break and daily close below that area could trigger further bearish pressure testing 121.50 – 121.00 region. Immediate resistance is seen around 123.00. A clear break and daily close above that area could trigger further bullish pressure testing 124.00/50 area. My major technical outlook is neutral.
